Chapter 11 Trustee & Examiner Financial Support
Vessel Advisors serves as the accounting and finance arm for Chapter 11 trustees, examiners, fee examiners, and Subchapter V small business trustees. MOR production, DIP budget compliance, schedules and SOFA support, plan feasibility, and forensic investigation of prior management actions.
We serve as the accounting arm for Chapter 11 trustees, examiners, and Subchapter V trustees.
Section 1104 appointments happen when the court finds cause — fraud, dishonesty, incompetence, or gross mismanagement — or when appointment is in the interest of creditors. Once a Chapter 11 trustee is in, the debtor's management loses control of the estate. The books, the bank accounts, the vendor relationships, and every reporting obligation now sit with the trustee.
The trustee's own bench is legal and administrative. The accounting and finance work — producing the MOR, tracking DIP compliance, correcting the schedules, running the ongoing books, investigating what the prior management was doing — almost always gets outsourced — and that is the work we do.
The engagement model is the same for examiners and fee examiners: an independent officer of the court who needs a court-fluent finance team behind them, on the timetable the court has already set.
What We Do
We run the trustee's accounting and finance function from day one.
Take Over the Books
Bank accounts, general ledger, subledgers, payroll, AR, AP, tax filings, and every open reporting obligation. If the prior management's books are behind, we get them current. If they're wrong, we correct them.
Produce the MORs
Monthly Operating Reports in the U.S. Trustee's format, filed on time. Cash receipts and disbursements, payroll and tax status, insurance certificates, and the schedules the U.S. Trustee scrutinizes on review.
DIP Budget & Variance
Line-level DIP budget tied to the DIP order. Weekly cash variance reporting to the lender. Cure-of-default communication when the numbers don't hit. See our DIP financing and MOR piece.
Schedules & SOFA Correction
When the debtor's original schedules and Statement of Financial Affairs are incomplete or inaccurate, we produce amended schedules that stand up to creditor and U.S. Trustee review.
Forensic Investigation
Insider transfers, unauthorized payments, missing assets, and the reconstruction work that supports the trustee's Section 542/543 turnover demands and counsel's avoidance-action analysis.
Plan Feasibility & Liquidation Analysis
Projections that support a trustee-proposed plan of reorganization — or the liquidation analysis that supports a conversion to Chapter 7. Court-defensible, buildable back to the underlying operations.
Also for Examiners and Fee Examiners
The finance discipline changes with the mandate.
Examiners appointed under Section 1104(c) are investigative rather than operational, but the investigation is a financial one — tracing money, reconstructing transactions, identifying causes of action. We produce the underlying financial work an examiner's report is built on: schedules of transfers, comparative analyses, transaction-level tracing.
Fee examiners appointed under Section 1103 or by local rule review the fee applications of estate-retained professionals. We produce the fee analytics — comparative rates, task-code aggregations, matter-level anomalies — that let a fee examiner reach defensible conclusions on a compressed timeline.
Subchapter V small business trustees under Section 1183 have a monitoring and mediation role. We support the trustee's review of the debtor's projections, plan feasibility, and MOR compliance in the streamlined Subchapter V context. See our Subchapter V piece for the procedural mechanics.
For Chapter 11 Trustees & Examiners
We take the debtor’s books, MORs, and DIP reporting off your team’s plate.
Interim accounting coverage inside the debtor, correction of records that arrived in bad shape, and the monthly reporting the U.S. Trustee and the DIP lender expect — on time, every month.
Schedule a Discovery Call
We’ll reach out within one business day.